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2014 economic forecasts coming for US, Arizona

Lee McPheters
November 18, 2013

We’ve seen a roller-coaster year for the U.S. and Arizona economies, thanks to sequestration, the government shutdown, the debt-ceiling debate and other developments. So, what will 2014 bring? Top experts will deliver their forecasts for the state, nation, stock market and housing market at the Valley’s largest and most trusted economic-forecasting event on Dec. 4.

The 50th Annual Economic Forecast Luncheon is co-sponsored by the Department of Economics at Arizona State University’s W. P. Carey School of Business and JPMorgan Chase. About 1,000 people are expected to attend the event at the Phoenix Convention Center.

“The Arizona economy is still expanding at a slow, but steady pace as we look ahead to 2014; growth rates for employment and population are better than for most states, but still below Arizona’s long-term average,” says one of the speakers, Research Professor Lee McPheters, director of the JPMorgan Chase Economic Outlook Center at the W. P. Carey School of Business. “Analysts expect unemployment to decline next year, while job growth accelerates. However, this assumes the national economy will get back on track. If the U.S. economy picks up, then 2014 should be the best year for Arizona since the recovery began.”

Event presentations will include forecasts on:

• Phoenix and the regional economy from McPheters, who is also editor of the prestigious Arizona and Western Blue Chip Economic Forecast publications.

• The U.S. economy from Lee Ohanian, associate director of ASU’s Center for the Advanced Study in Economic Efficiency and a professor at the University of California - Los Angeles, who is also an advisor to the Federal Reserve Bank of Minneapolis and a frequent columnist for The Wall Street Journal, Forbes and other media outlets.

• The financial sector from James Glassman, managing director and senior economist for JPMorgan Chase & Co., who is frequently cited by the financial media and previously served in various research divisions at the Federal Reserve Board in Washington, D.C.

• Real estate and construction from Elliott D. Pollack, chief executive officer of Elliott D. Pollack and Company, a highly regarded Scottsdale-based economic and real estate consulting firm.

The 50th Annual Economic Forecast Luncheon will be held in the Phoenix Convention Center’s West Ballroom on Wednesday, Dec. 4 from 11:15 a.m. to 1:30 p.m. Admission is $90 per person. Proceeds are used to support student scholarships, faculty research, and other academic and professional activities in the Department of Economics at the W. P. Carey School of Business.

For more information, including registration details, go to or call (480) 965-3531.